Mortgage Calculator Help

You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.

If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.

Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.

Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.

If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)

Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.

The term (duration) of the loan is expressed as a number of months.

60 months = 5 years

120 months = 10 years

180 months = 15 years

240 months = 20 years

360 months = 30 years

Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/mortgage-calculator

Currency and Date Conventions

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$1.234,56

£1,234.56

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€1,234.56

€1.234,56

1 234,56 €

1.234,56 €

mm/dd/yyyy

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Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.

CML Mortgage Calculator

You can use our online calculator to estimate your monthly payments, principal, and interest:

Complete the form to the left

Click “Calc” to calculate your mortgage

Click “Charts” to view principal and interest

Click “Schedule” to view your mortgage payment schedule

3rd Party Online Mortgage Calculators

The following online calculators serve as helpful tools during the mortgage process:

Home Affordability Calculator
The Home Affordability Calculator easily estimates how much you can afford to spend on a home, along with estimated monthly payments.

Amortization Calculator
Our amortization calculator will amortize your debt and display your payment breakdown of interest paid, principal paid and loan balance over the life of the loan.